Thomason to retire as president and CEO of Keeneland

LEXINGTON, Ky. -- Bill Thomason will retire as president and chief executive officer of Keeneland at the end of the year and be replaced by Shannon Bishop Arvin, a board member and the general counsel for the company, Keeneland announced on Thursday.

Thomason has served as president and CEO of Keeneland since 2012.

Thomason, who was hired by Keeneland after a long career as the financial and administrative manager of Mill Ridge Farm in Central Kentucky, took over management of Keeneland when the racing and sales company was facing steep declines in revenue brought on by the credit crunch that followed the recession of 2008. The company eventually recovered from the crisis, and Keeneland refocused on its live racing meet. The track has set records for attendance and handle numerous times over Thomason’s tenure.

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Under Thomason, Keeneland hosted the Breeders’ Cup in 2015, using a plan that relied on the investment of hundreds of thousands of dollars in temporary seating areas. The plan has since become a model for Breeders’ Cup hosts that, like Keeneland, have a small geographic footprint. Keeneland is scheduled to host this year’s Breeders’ Cup as well.

Reserved, polite, and intellectual, Thomason was widely lauded for his attention to detail and his respect for Keeneland’s role in the Central Kentucky community. His former employer Alice Chandler is the daughter of a Keeneland founder, the late Hal Price Headley, and her sons have deep ties to Kentucky’s breeding industry.

“I’ve never met anyone who has more love for Keeneland or more respect for its traditions than Bill Thomason,” said Bill Lear, a trustee of Keeneland since 2008. “He has demonstrated both qualities in everything he has done as president, and we take this opportunity to thank him for serving Keeneland so well.”

Thomason was also well attuned to criticisms of the racing industry generated by the deaths of racehorses. Under his watch, Keeneland played a principal role in the formation last year of a group called the Thoroughbred Safety Coalition, which is pressing for regulatory reforms and changes to operating practices that are designed to reduce racehorse injuries. The group includes the most high-profile racing companies in the U.S., including the Breeders’ Cup.

“Under Bill’s leadership, Keeneland implemented numerous significant initiatives that will leave a lasting positive impact on the Thoroughbred business, including Keeneland’s hosting of the ground-breaking 2015 Breeders’ Cup and being a co-founder of the Thoroughbred Safety Coalition,” said Drew Fleming, who was installed as the chief executive of Breeders’ Cup late last year. “It has been a real pleasure to work closely with Bill, and we look forward to continuing to work with him in the future.”

Arvin, a partner with Stoll Keenon Ogden, a law firm that has a long relationship with Keeneland, will become acting president as of Sept. 1 and will “officially transition to President and CEO” on Jan. 1, 2021, Keeneland said in a release. She will become the eighth president of Keeneland and the first woman to head up the not-for-profit company.

Arvin’s grandfather W. T. Bishop was Keeneland’s first general manager when the track opened in 1936. Her father, William T. “Buddy” Bishop, lived for a time in an apartment on the Keeneland grounds and was variously a director, secretary, trustee, and counsel at the company. Buddy Bishop was also a partner at Stoll Keenon Ogden.

Arvin has been general counsel for Keeneland since 2008. She has been the secretary and an advisory member of Keeneland’s board of directors since 2015. The board unanimously approved her appointment as president and CEO, Keeneland said.

“I am humbled and grateful for the opportunity to serve as President and CEO of Keeneland,” Arvin said, in the release. “I have a deep love and passion for Keeneland and it is a tremendous honor to lead this organization and work alongside this amazing team. By building on the foundation laid by Bill Thomason and those who came before him, and with a continued focus on integrity, innovation, and safety, we will further the mission of Keeneland and ensure the future of this sport.”

In a release, Keeneland trustee Seth Hancock said that Thomason notified the board last year that he intended to retire in the next year in order to “spend more time with his family.”

“It has been the honor of a lifetime to be part of the Keeneland family,” Thomason said. “I feel privileged to work alongside people who share a commitment to always put the best interest of the horse first and to exceed our customers’ expectations. Keeneland was founded upon these principles, which continue to guide our operations to this day.”

Thomason and his wife, Barbara, have two daughters, three grandsons and one granddaughter. A third daughter, Marcie, died in 2006 when a plane leaving Lexington crashed just after takeoff. She was 26.